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Today's Terms
Reamortization
Definition:
If your loan is reamortized, the delinquency is added to the loan balance in order to bring your payments up to date. This increases your loan amount and will also increase your monthly payments.
Chapter Thirty Three
Definition:
An unofficial term describing a company that has filed for Chapter 11 three times.
Chapter Eleven
Definition:
Reorganization proceedings, generally for business entities; the debtor maintains control of the business in Chapter 11 (unless the Court appoints a trustee).
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